The Treasury Department and Internal Revenue Service have announced that the federal income tax filing and payment due dates for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. Individuals do not need to take any action to receive this automatic federal tax filing and payment relief.
This relief, however, does not apply to estimated tax payments that are due on April 15, 2021. These payments are still due on April 15.
Further, the federal tax filing deadline postponement to May 17, 2021, only applies to individual federal income taxes and does not extend state tax deadlines. We will be monitoring if any states also extend their deadlines.
The IRS is expected to issue formal guidance in the coming days. We will keep you updated with relevant information as it is released.
Please reach out to us if you have any questions or would like to discuss the extended filing and payment due date.